The purposes of writing a diary are very varied and there are none. There is no journal entry to forecast sales, but actual sales are recorded when they occur. The bills received are not recorded in the diary, but are recorded in the diary when the bill is actually paid or when public services are used. A composite journal entry is an entry that records more than one business transaction in a single journal entry. To record the journal entry, it is mandatory that the business transaction has already been made; otherwise, no journal entry can be made before the business transaction occurs.
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